El Paso had great sales in March 2010

May 9, 2010

El Paso saw 509 home sales during March 2010.  This is 17 percent higher than last year’s 435 and 21 percent higher than March 2008’s 419.  It’s the highest number for the first quarter of 2010 and double January 2010’s sales.

2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617
2009 Nov 570 0.57 0.47 147,800 -0.05 131,900 -0.01 3,549 -0.26 6.226
2009 Dec 444 0.22 0.23 154,200 -0.04 135,000 -0.01 3,375 -0.24 7.601
2010 Jan 253 -0.17 -0.15 156,000 -0.01 130,700 0.03 3,310 -0.26 13.083
2010 Feb 363 0.11 0.11 142,100 -0.07 126,300 -0.04 3,321 -0.27 9.148
2010 Mar 509 0.17 0.21 147,500 -0.05 126,900 -0.05 3,320 -0.27 6.522
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices are not nearly as strong, but are okay.  The average home price was $147, 500, which is a 5 percent drop from 2009’s $154,500 and the median home price was also 5 percent lower.  In 2010, the median home price was $126,900, but in 2009 the median price was $133,500.  Perhaps the high sales are attributable to the dropping prices.

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El Paso rebounds from January in February

April 18, 2010

There were 363 homes sold during February in El Paso.  This is 11 percent higher than 2009 and 2008, which both had 328 sales.

2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335 2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25 2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575 2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016 2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527 2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984 2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743 2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349 2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203 2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185 2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269 2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799 2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895 2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524 2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451 2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954 2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794 2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748 2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589 2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443 2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617 2009 Nov 570 0.57 0.47 147,800 -0.05 131,900 -0.01 3,549 -0.26 6.226 2009 Dec 444 0.22 0.23 154,200 -0.04 135,000 -0.01 3,375 -0.24 7.601 2010 Jan 253 -0.17 -0.15 156,000 -0.01 130,700 0.03 3,310 -0.26 13.083 2010 Feb 363 0.11 0.11 142,100 -0.07 126,300 -0.04 3,321 -0.27 9.148 Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices did not improve as sales did.  The average price was $142,100 and the median price was $126,300.  The average price dropped from last month and dropped 7 percent from last year.  The median price was down $4400 from last month and 4 percent from last year.  Though more homes were sold, they were sold at lower prices.

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El Paso’s January surprisingly bad

March 7, 2010

January is notoriously bad for real estate.  This January is specifically bad for El Paso.  In January 2010, there were 253 home sales, which is a 17 percent drop from January 2009’s 304 sales and 15 percent below the 299 sales in January 2008.  It is also the lowest number of sales in at least three years.  El Paso had positive sales compared to 2008 for the past six months.  It was the one bright spot in Texas’s market, but now rejoins the ranks of dropping sales.

2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617
2009 Nov 570 0.57 0.47 147,800 -0.05 131,900 -0.01 3,549 -0.26 6.226
2009 Dec 444 0.22 0.23 154,200 -0.04 135,000 -0.01 - -1 0
2010 Jan 253 -0.17 -0.15 156,000 -0.01 130,700 0.03 3,310 -0.26 13.083
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

The prices are pretty much the same as January.  The average home price was $156,000, which is only one percent lower than last January.  The median price was $130,700, which is actually three percent above last January’s rate.  Apparently, less people are buying homes, but the people buying can afford more expensive homes.

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Highest priced homes lose marketshare to low and mid priced homes

February 14, 2010

El Paso’s market is the only market in Texas to have posted positive home sales consistently throughout 2009.  When reviewing final price distributions for 2009, it’s clear low and middle priced homes increased not only in share, but also number.  Homes above $250,000 lost marketshare.  Two categories between $300,000 and $499,999 had double digit loses.

Price Range Percent Distribution # of Sales
2008 2009 2008 2009 Change
$29,999 or less 0.1 0.3 5 16 237.31%
30,000 - 39,999 0.3 0.4 14 21 49.92%
40,000 - 49,999 0.6 0.5 29 27 -6.30%
50,000 - 59,999 1.2 1.3 57 70 21.81%
60,000 - 69,999 1.7 2.3 81 124 52.12%
70,000 - 79,999 4.1 4.2 196 226 15.18%
80,000 - 89,999 6.8 5.7 325 306 -5.75%
90,000 - 99,999 8.1 7.6 387 408 5.50%
Under 100k 22.9 22.3 1,094 1,198 9.49%
100k - 119,999 15.8 17.9 755 961 27.38%
120k - 139,999 15.5 16.8 740 902 21.87%
140k - 159,999 10.3 11.4 492 612 24.45%
100k - 160k 41.6 46.1 1,987 2,476 24.60%
160k - 179,999 8.8 8 420 430 2.22%
180k - 199,999 5.7 5.4 272 290 6.52%
200k - 249,999 9 9.1 430 489 13.69%
250k - 299,999 5.1 4.2 244 226 -7.40%
300k - 399,999 4.3 2.9 205 156 -24.17%
400k - 499,999 1.4 1 67 54 -19.69%
500k and more 1.2 1 57 54 -6.30%

The greatest increase came in the under $29,999 category, which shows 237 percent increase, even though this is only the difference of 11 homes.  About half of the categories with positive increases have double digit increases.

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El Paso leads Texas with percentage increase in sales, but prices are terrible

February 2, 2010

Sales in December 2009 are up 22 percent from 363 to 444 in El Paso.  This market is remarkable as they are even up 23 percent from 2007’s 362 sales.  El Paso is the only big market in Texas to show this type of growth.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617
2009 Nov 570 0.57 0.47 147,800 -0.05 131,900 -0.01 3,549 -0.26 6.226
2009 Dec 444 0.22 0.23 154,200 -0.04 135,000 -0.01 - -1 0
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices, on the other hand, continue to lag suggesting there are a lot of sales in the low end of the market.  The average home sale’s price was $154,200 in December 2009, which is a 4 percent drop from $159,900 in December 2008.  Additionally, it is the eighth month in a row with a negative yearly change.  The median home price was 1 percent lower than its 2008 counterpart dropping to $135,000 from $136,300.  It is also the eighth month with a decline.

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El Paso distribution shifts toward low and moderately priced homes

December 5, 2009

El Paso continues to show a shift toward moderate and low priced homes.  Recently released data, running through October 2009, suggest end of year trends will reveal vast increases in low priced homes and healthy increases in middle priced homes, see table.

El Paso
Price Range Percent Distribution # of Sales
2008 2009* 2008 2009* Change
$29,999 or less 0.1 0.3 5 13 173.62%
30,000 - 39,999 0.3 0.4 14 17 21.61%
40,000 - 49,999 0.6 0.5 29 22 -23.99%
50,000 - 59,999 1.2 1.4 57 61 6.41%
60,000 - 69,999 1.7 2.4 81 105 28.76%
70,000 - 79,999 4.1 4.2 196 183 -6.57%
80,000 - 89,999 6.8 5.9 325 257 -20.87%
90,000 - 99,999 8.1 7.6 387 331 -14.42%
Under 100k 22.9 22.7 1,094 989 -9.59%
100k - 119,999 15.8 18 755 784 3.91%
120k - 139,999 15.5 16.7 740 727 -1.73%
140k - 159,999 10.3 11 492 479 -2.60%
100k - 160k 41.6 45.7 1,987 1,991 0.20%
160k - 179,999 8.8 7.7 420 335 -20.19%
180k - 199,999 5.7 5.5 272 240 -11.99%
200k - 249,999 9 9.1 430 396 -7.78%
250k - 299,999 5.1 4.2 244 183 -24.89%
300k - 399,999 4.3 3.1 205 135 -34.25%
400k - 499,999 1.4 1 67 44 -34.85%
500k and more 1.2 1.1 57 48 -16.39%

Almost every category under $80,000 shows an increase in marketshare over 2008.  With only 10 months of data, there is already a dramatic increase in the number of homes sold under $40,000 and between $60,000 and $70,000.  There is also a minimal increase in numbers between $50,000 and $60,000.

The other area of increase is middle priced homes.  The homes between $100,000 and $159,000 increased their marketshare over 2008, with homes between $100,000 to $120,000 already exceeded the numbers posted last year.

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El Paso’s October is bright spot for state

December 1, 2009

El Paso’s home sale gains continue to exceed the other large markets in Texas.  There were 541 homes sold in October 2009, which is the highest number since August 2007.  Not only that, but they were 31 percent higher than October 2008 and 23 percent higher than 2007, as seen below.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617

Average and median prices are not making the strides that sales are, but sales are probably making these strides because the prices are decreasing.  The average home price of $149,200 was 6 percent lower than in October 2008’s $158,500.  The median home price of $131,000 remained constant from last October.  It is the highest price this quarter, too.

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Price distribution of El Paso home sales

November 10, 2009

Data from the first three quarters of 2009 have been released for the price distribution of home sales in El Paso, see table below.

El Paso
Price Range Percent Distribution # of Sales
2008 2009* 2008 2009* Change
$29,999 or less 0.1 0.3 4.78 11.45 139.64%
30,000 - 39,999 0.3 0.4 14.33 15.26 6.50%
40,000 - 49,999 0.6 0.5 28.66 19.08 -33.43%
50,000 - 59,999 1.2 1.4 57.31 53.41 -6.81%
60,000 - 69,999 1.7 2.5 81.19 95.38 17.47%
70,000 - 79,999 4.1 4.2 195.82 160.23 -18.17%
80,000 - 89,999 6.8 6 324.77 228.90 -29.52%
90,000 - 99,999 8.1 7.4 386.86 282.31 -27.02%
Under 100k 22.9 22.7 1093.70 866.01 -20.82%
100k - 119,999 15.8 18.2 754.61 694.33 -7.99%
120k - 139,999 15.5 16.1 740.28 614.22 -17.03%
140k - 159,999 10.3 11 491.93 419.65 -14.69%
100k - 160,000 41.6 45.3 1986.82 1728.20 -13.02%
160k - 179,999 8.8 7.8 420.29 297.57 -29.20%
180k - 199,999 5.7 5.7 272.23 217.46 -20.12%
200k - 249,999 9 9 429.84 343.35 -20.12%
250k - 299,999 5.1 4.2 243.58 160.23 -34.22%
300k - 399,999 4.3 3.2 205.37 122.08 -40.56%
400k - 499,999 1.4 1.1 66.86 41.97 -37.24%
500k and more 1.2 1.1 57.31 41.97 -26.78%

For now the percentages offer interesting speculation on trends.  The true comparison will only come once the last quarter’s data are received.  One emerging trend is the increase in moderately priced homes.  The homes priced between $100,000 and $119,999 has the highest distribution jump seen not only in El Paso’s 2009, but also across the state’s largest markets.  All the price categories from $100,000 to $160,000 show an increase.  Extremely low priced homes are also absorbing a larger part of the market share, but none of the categories jumped the previously discussed one.

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Mixed result for August 2009: Sales Up, Prices Down

October 2, 2009

August 2009’s 485 home sales were 15 percent higher than August 2008’s 433 sales.  Although sales were 12 percent down from August 2007’s 554 sales, El Paso’s August managed to not only be the top sales month of the summer, but also the year.

Year Month Homes Sold One Year Change Two Year Change Average Price One Year Change Median Price One Year Change Active Listings One Year Change Months of Inventory
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices were not as a positive.  The average home price of $150,100 was the lowest of the summer, and six percent lower than August 2008.  The median home price of $129,600 was 3 percent lower than August’s 2008 counterpart, and the lowest of the summer.  Although El Paso’s number of sales suggests a possible recovery, the low home prices might indicate people selling homes below the true worth to shed the financial responsibility.

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El Paso struggles to meet 2008 sales numbers and prices

September 9, 2009

El Paso had 478 home sales in July 2009.  This is a 5 percent drop from July 2008’s 502 sales, and a 17 percent drop from July 2007’s 573 sales.  July had three less home sales than June 2009.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748

Home prices also declined in the market from one year ago.  The average home price continues a steady climb starting in May, which brings El Paso’s average price back to January 2009 levels; however, it does not bring El Paso back to July 2008 levels.  The average home price in July 2008 was $168,800, and in 2009 it was $157,100.  The median home price in July 2008 was $138,500, and in 2009 it was $135,200.  These are 3 and 2 percent drops, respectively.

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